#Nifty
For 24-07-2020
Support for Nifty comes at 11180-11140-11062
Resistance for Nifty comes at 11244-11300-11377
BankNifty
Support for BankNifty comes at 22940-22858-22760
Resistance for BankNifty comes at 23211-22449-23565
Nifty for the day first support was 11100 and it made a low of 11103. Power of technicals. I exited my yesterday carry over Nifty Futures long at 11200. Today maximum upside was expected at 11244 and Nifty made a high of 11239.8.
For tomorrow if Nifty sustains above 11250 for 15 minutes then possible targets can be 11300-11350-11377. Else if Nifty slips below 11140 it can slide down to 11100-11060-11000. Range of 11140-11250 can be choppy and upside and downside break out levels can be failed. So I will avoid Nifty trade tomorrow.
BankNifty for the day first support was 22780 and except for the first minute low of 22734 and it never went below 22780. Power of technicals. For today Banknifty was buy on all dips to 22800-22700 and from morning dip of 22734-22780 it went all the way to 23122. I exited at 23000.
For tomorrow Banknifty can be bought on all dips to 23000-22940 with SL of 22750 for 3-5 days target of 23200-23400-23565. Banknifty below 22750 can go down to 22500-22300. But avoid short trade.
Disclosure: I don't have any position in Nifty and BankNifty futures.
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